spridgets
[Top] [All Lists]

Re[2]: [Fwd: Re: SUV arguments...]

To: owner-spridgets@autox.team.net, GreenBugeye@aol.com
Subject: Re[2]: [Fwd: Re: SUV arguments...]
Date: Sun, 23 Feb 2003 00:38:42 -0500
Cc: spridgets@autox.team.net
References: <11.aebca17.2b8956ec@aol.com> from [141.150.134.188] at Sat, 22 Feb 2003 23:53:02 -0600
Hello GreenBugeye,

Saturday, February 22, 2003, 5:42:52 PM, you wrote:

GreenBugeye> In a message dated 2/22/03 5:40:51 PM Eastern Standard Time, 
GreenBugeye> bushwacker4@zoomtown.com writes:

GreenBugeye> This is an Internet myth.  Our Congressman was just defeated after 
16 years 
GreenBugeye> in office, and his Congressional pension is $38,000 per year.  
Certainly 
GreenBugeye> generous, but a far cry from full pay for life.

I got this information from
http://www.opm.gov/fers_election/ri_90/f_seg.htm#congress


Members of Congress and Congressional Employees

Members of Congress receive an unreduced annuity at age 50 with 20 years of 
service,
or at any age with 25 years of service. Congressional employees must meet the
age and service requirements explained in the Basic Benefit Plan section.

If you are a Member of Congress or a Congressional employee, with at least 5 
years
of Congressional service, your annuity will be: 


     1.7% of high-3 average pay
            times
     years of Congressional service up to 20
             plus
     1.0% of high-3 average pay
        times any other service.

A Special Retirement Supplement is payable from the Minimum Retirement Age to 
age 62.
If you have earnings from wages or self-employment that exceed the Social 
Security annual
exempt amount, your supplement will be reduced or stopped. 

Cost-of-Living-Adjustment's (COLA's) are payable to Congressional retirees 
before age 62
only if they retire for disability. Members of Congress and Congressional 
employees
contribute an additional .5% of pay to the Federal Employees Retirement System 
(FERS).


Salaries for Congressmen over the last three years were:

2002  $150,000
2001  $145,100 
2000  $141,300 

This give an average of $145,466.67, so below is a list of retirement
benefits bases on the last three years for 1 to 30 years of service.
Feel free to check the math and correct me if I am wrong.

Years of
Service  Retirement Benefit
1        $2,472.93 
2        $4,945.87 
3        $7,418.80 
4        $9,891.73 
5        $12,364.67 
6        $14,837.60 
7        $17,310.53 
8        $19,783.47 
9        $22,256.40 
10       $24,729.33 
11       $27,202.27 
12       $29,675.20 
13       $32,148.13 
14       $34,621.07 
15       $37,094.00 
16       $39,566.93 
17       $42,039.87 
18       $44,512.80 
19       $46,985.73 
20       $49,458.67 
21       $50,913.33 
22       $52,368.00 
23       $53,822.67 
24       $55,277.33 
25       $56,732.00 
26       $58,186.67 
27       $59,641.33 
28       $61,096.00 
29       $62,550.67 
30       $64,005.33 


- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

-- 
Best regards,
 Bill                            mailto:w.gilroy@verizon.net


"The liver is evil, it must be punished"
77 Midget
02 Irish Terrier

///  unsubscribe/change address requests to majordomo@autox.team.net  or try
///  http://www.team.net/mailman/listinfo
///  Archives at http://www.team.net/archive/spridgets


<Prev in Thread] Current Thread [Next in Thread>